Section 583 CAMA 2020
Section 583 Companies and Allied Matters Act is about Statement of company’s affairs to be submitted to the official receiver. It is under Chapter 21 (Winding-up by the court jurisdiction) of the Act.
(1) Where the Court has made a winding-up order or appointed a provisional liquidator there shall, unless the court deems fit to order otherwise and so orders, be made out and submitted to the official receiver a statement of affairs of the company in the prescribed form, verified by affidavit, and showing the particulars of its assets, debts and liabilities, the names, residencesand occupations of its creditors, the securities held by them respectively, thedates when the securities were respectively given, the list of members and thelist of charges and such further or other information as may be prescribed oras the official receiver may require.
(2) The statement shall be submitted and verified by one or more of the persons who are, at the relevant date, the directors and the person who is at that date the secretary of the company, or by the persons mentioned in this subsection as the official receiver, subject to the direction of the Court, may require to submit and verify the statement, of persons who—
(a) are or have been officers of the company ;
(b) have taken part in the formation of the company at any time within one year before the relevant date ;
(c) have been or are in the employment of the company within the said year, and are in the opinion of the official receiver capable of giving theinformation required ;
(d) are or have been within the said year officers of or in the employment of a company which is, or within the said year was, an officer of the company to which the statement relates.
(3) The statement shall be submitted within 14 days from the relevant date or within such extended time as the official receiver or the Court may,for special reasons, appoint.
(4) Any person making or concurring in making the statement and affidavit required by this section shall be allowed and shall be paid by the official receiver or provisional liquidator, as the case may be, out of the assets of the company such costs and expenses incurred in and about the preparation and making of the statement and affidavit as the official receiver may consider reasonable,subject to an appeal to the Court.
(5) If any person, without reasonable excuse, makes default in complying with the requirements of this section, he commits an offence and is liable to afine of N100 for every day during which the default continues.
(6) Any person stating himself in writing to be a creditor or contributory of the company is entitled by himself or by his agent at all reasonable times, ona payment of the prescribed fee to inspect the statement submitted under this section, and to a copy of or extract from it.
(7) Any person who falsely states that he is a creditor or contributory is guilty of contempt of court and shall, on the application of the liquidator or of the official receiver, be punished accordingly.
(8) In this section, the expression “the relevant date” means, in a case where a provisional liquidator is appointed, the date of his appointment and ina case where no appointment is made, the date of the winding-up order.
